Competitive Edge
March 5th, 2025
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Market Update
— Tariffs:
Canada/Mexico: As of March 4th, 25% tariffs went into effect on nearly all imports from Canada and Mexico to the U.S., per executive order. Energy imports will only face a 10% tariff.
China: Additional tariffs on nearly all imports from China were increased from 10% (the ones that went into effect in early February) to a total of 20% as of March 4th. There are some exceptions.
Furthermore, the President has revealed plans to impose new tariffs – 25% on steel and aluminum imports, with an effective date being reported of March 12th. Further information regarding specific details has been published in Federal Register Public Notices.
–Gemini Cooperation Alliance is off to a good start, according to Hapag-Lloyd CEO Rolf Habben Jansen at a conference this week. Habben Jensen says schedule reliability remains on track and 45 out of their 57 services have already been rolled out. More info on the new ocean carrier alliance.Â
–ILA union members have voted to ratify the new six-year master contract, which covers more than 20,000 workers along East/Gulf Coast ports, per Freightwaves. The official signing will be on March 11th.
Freight News: Port of Hamburg, Port of Baltimore Volumes in 2024
Overall container throughput at the Port of Hamburg year-over-year handled 7.8 million TEUs, a slight 0.9% year-over-year increase. As the port noted in their press release, loaded containers accounted for 87% of the throughput (6.8 million TEUs). In total, the port handled 78.7 million TEUs of general cargo, majority in containers.
On the U.S. side of things… the Port of Baltimore’s terminals handled nearly 46 million TEUs last year, which is their second best year (just shy of 2023). Per the Port’s news release, they finished 10th in the U.S. for total cargo handled.Â
Relevant content: Putting a Bow on 2024 Port Volumes.
Did You Know? With Johnny Cargo!
What do you think the answer is?
InterlogUSA’s chat bot Johnny Cargo sure is an inquisitive soul. However, he doesn’t just ask about industry-related trivia. Johnny also loves to ask supply chain professionals about their shipping arrangements and which areas can benefit from InterlogUSA’s assistance as an end-to-end freight forwarder.
He works around the clock and is always available for conversation.
Demurrage vs. Detention vs. Per Diem
Confused about demurrage, detention, and per diem fees? You’re not alone.. but the differences do matter.
If you would like to have a conversation about this further, contact us via email at: support@interlogusa.com or reply off this email and we’d be happy to talk further!
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